The U.S. Department of Agriculture is now forecasting U.S. net farm income for 2019 is at $92.5 billion, up $8.5 billion from the 2018 level. Nebraska Farm Bureau Senior Economist Jay Rempe says that’s encouraging news for the nation’s farmers and ranchers.
He says what’s also encouraging for the U.S. ag economy is all the positive developments with trade this year.
Rempe says looking ahead to next year, the keys to the success of the ag economy will be centered on weather as well as overseas markets.
In their report, USDA also said that net cash farm income is seen at $119 billion, a rise of $15.5 billion from 2018 and up from the August forecast of $112.6 billion.
